(Filed Under Financial and General Interest News). During this yearâs fourth quarter, Frederickâs of Hollywoodâs net sales dropped 18.1 percent, to $34,463 million from $42,093 million, driven by a 56.9 plunge in wholesale segment sales. The company also posted losses in its retail segment, with total store sales down 6.9 percent, comparable store sales down 6.5 percent, and direct salesâwhich encompass catalog and website operationsâdown 11.9 percent.
During fiscal 2009 ended July 26th, 2009, net sales dropped 3.3 percent, to $176,310 million from $182,233 million; total store sales decreased 6.2 percent while comparable store sales decreased 6.5 percent; and direct sales decreased 10.4 percent.
âOur 2009 fiscal year-end results are disappointing,â said Thomas Lynch, the companyâs chairman and chief executive officer. âWeak macro-economic conditions and the significant reduction in our wholesale business magnified the challenges of integrating our retail and wholesale divisions, and highlighted the need for additional capital resources, stronger management, enhanced brand stewardship and an improved business structure.â
Frederickâs of Hollywood Group, Inc. sells womenâs intimate apparel and related products under the Frederickâs of Hollywood brand through 130 specialty stores nationwide, as well as through the companyâs catalog and website. Through its wholesale division, the company designs, manufactures, sources, distributes and sells womenâs apparel.
For further information, contact Thomas Rende, CFO of Frederickâs of Hollywood: (212) 798-4700.
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